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Wei Dai's comment on why Bitcoin has succeeded (2014-03-16)
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"To be honest I didn't initially expect Bitcoin to make as much impact as it has, and I'm still at a bit of a loss to explain why it has succeeded to the extent that it has. In my
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experience lots of promising ideas especially in the field of cryptography never get anywhere in practice. But anyway, it's probably a combination of many things. Satoshi's knowledge
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and skill. His choice of an essentially fixed monetary base which ensures early adopters large windfalls if Bitcoin were to become popular, and which appeals to people who distrust
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flexible government monetary policies. Timing of the introduction to coincide with the economic crisis. Earlier discussions of related ideas which allowed his ideas to be more readily
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accepted. The availability of hardware and software infrastructure for him to build upon. Probably other factors that I'm neglecting."
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